BrazAlta Completes Well in Santana Field in Brazil
BrazAlta Resources Corp., together with its Brazilian joint venture partner, W.Washington Empreendimentos E Participacoes has successfully completed drilling of the SA-01 well to a total depth of 2,010 meters in the Santana Field. Two formations of interest were the Azavado and Agua Grande. Both zones were penetrated in the operation and the deepest zone, the Agua Grande, was present but was wet and not hydrocarbon bearing. At the Azavado level, petrophysical analysis indicates 7.8 meters of net-pay with porosities averaging 19%. Production from the Azavado formation in offsetting wells is 35 degree API in quality. Production casing was run and cemented to a depth of 751 meters.
This was the first well drilled with the Corporation's recently imported to Brazil triple drilling rig named BCH-02, which is owned and operated by the Corporation's wholly-owned oilfield services subsidiary, BCH Ltd. ("BCH"). Testing of the well will commence at the Azavado level and upon determination of results within 3-4 weeks; the well will be placed on production. Testing and completion will be performed by BCH's service rig SR-101.
BCH-02 will now move to spud its second development drilling location in an adjacent field, FRB-1 (Fazenda Rio Branco-1).
Going forward BrazAlta expects to provide periodic updates on its drilling program and will provide relevant production data after completion of production tests on each new well.
W.Washington is BrazAlta's partner with respect to BrazAlta's Brazilian operations in the Reconcavo, Sergipe and Tucano basins of Brazil.
BrazAlta is a publicly traded Canadian based international oil and gas corporation with operations in Brazil, Northern Ireland and Canada.
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